Wealth Effects LLC Trims Position in Eli Lilly and Company $LLY

Wealth Effects LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 37.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,068 shares of the company’s stock after selling 641 shares during the period. Wealth Effects LLC’s holdings in Eli Lilly and Company were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the period. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Nuveen LLC purchased a new stake in Eli Lilly and Company in the first quarter worth about $4,613,912,000. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares in the last quarter. Finally, Cohen Investment Advisors LLC increased its position in Eli Lilly and Company by 7,975.5% during the 1st quarter. Cohen Investment Advisors LLC now owns 783,651 shares of the company’s stock valued at $647,225,000 after purchasing an additional 773,947 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LLY has been the subject of several research reports. Berenberg Bank reaffirmed a “hold” rating and issued a $830.00 price target (down previously from $970.00) on shares of Eli Lilly and Company in a research report on Wednesday, September 17th. Hsbc Global Res upgraded Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a report on Wednesday, August 27th. Morgan Stanley reiterated an “overweight” rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Cantor Fitzgerald decreased their price objective on Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Finally, HSBC upgraded Eli Lilly and Company from a “reduce” rating to a “hold” rating and lifted their target price for the company from $675.00 to $700.00 in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $939.61.

Eli Lilly and Company Stock Performance

LLY opened at $742.51 on Thursday. The company has a market cap of $702.75 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The firm’s 50-day moving average price is $736.05 and its 200-day moving average price is $768.68. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $939.30.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the firm earned $3.92 EPS. Eli Lilly and Company’s revenue was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Activity at Eli Lilly and Company

In other news, CEO David A. Ricks bought 1,632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the acquisition, the chief executive officer directly owned 546,601 shares of the company’s stock, valued at $352,431,926.77. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Skovronsky purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the acquisition, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,514 shares of company stock worth $2,894,841 in the last quarter. 0.13% of the stock is owned by insiders.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.